Archive | Banking & Finance

Bank of Valletta representative office in Libya back in operation

The Bank of Valletta representative office in Libya resumed operations on November 13. The Bank had temporarily suspended its operations during the uprising in the country to ensure the safety of its employees.The Bank’s Representative Office will continue to promote cross-border trade and investment between the two countries and to help provide the infrastructure necessary […]

HSBC re-opens in Libya

 HSBC closed its Tripoli office in February. With the end of hostilities and the rapidly normalising situation on the ground, the bank said it is able to re-open for business. HSBC’s representative office was first established in 2006, although the bank’s presence in Libya goes back almost 60 years, having opened its first branch in […]

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GRTU calls for setting up of €50m Libya business support fund

GRTU, the Chamber of Small Enterprises, is insisting the government sets up a €50 million fund solely to help Maltese companies with funding to invest in Libya. According to the GRTU’s weekly newsletter Newstring, director general Vince Farrugia wrote to Finance Minister Tonio Fenech last Friday detailing “an urgent request to assist Maltese companies restarting […]

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Commodities Forecast Update: Growth in 2012

Oil: global growth continues to support demand We would not be surprised to see Brent crude trade in the USD105-115 per barrel range for quite a while. Despite the global financial jitters, oil prices have been well supported over the last couple of months. The removal of Colonel Gadaffi in October has put a lot […]

Libya is 7th largest investor in Abu Dhabi

Libya emerged as the seventh largest investor in Abu Dhabi at the end of 2008 while Britain was the top investor, pumping nearly a third of the total capital into the emirate, according to government data. By the end of 2008, foreign direct investment (FDI) into Abu Dhabi totalled nearly 51.6 billion, up by around […]

Libya open for business but obstacles ahead

Within days, Prime Minister Abdurrahim El-Keib will name a new government that will have the tough task of asserting the National Transitional Council’s (NTC) control of a fractured country, reviving the economy and introducing democracy. It will have to build institutions from scratch, sustain the revival of Libya’s oil industry and disarm militias. Bringing unruly […]

Libya Explores Fund to Channel Investment Tied to Security Deals

Libya is considering the creation of funds to manage investment in infrastructure pledged by defense and security companies to win government contracts, according to consultancy Blenheim Capital Services Ltd. Blenheim has held initial talks with Libya’s interim National Transitional Council with a view to being taken on as an adviser to help set up the […]

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